Whirlpool warns on slumping demand as costs stay hot; a 110-year-old U.S. appliance giant posted profit concerns amid inflation and weak consumer demand.
Whirlpool has issued a downbeat earnings outlook after reporting weaker-than-expected quarterly results, citing inflation, tariffs, and geopolitical turmoil. The company has cut its guidance and signaled price increases to offset costs, as consumer demand for large home appliances declines amid weak housing activity and low confidence.
Producer and consumer prices have risen amid the Iran war, with April producer prices up 1.4% and 12-month consumer inflation at 3.8% in April, driven by energy costs. Economists warn higher costs are increasingly likely to be passed to shoppers, complicating Fed policy as the election cycle looms.